Mortgage Rates Today, Apr. 11, 2025: Rates Are Up This Week, Not Down.
The average 30-year fixed rate mortgage is 7.07% today, an increase of 0.16% since yesterday. The 15-year fixed mortgage rate stands at 6.08%, up by 0.13%. The 30-year FHA mortgage now averages 6.38%, having risen by 0.15. Meanwhile, the 30-year jumbo mortgage rate is 7.31%, reflecting a decrease of 0.16%.
The bigger picture
Sometimes, we have to remind readers that Freddie Mac's weekly mortgage rates survey is often out of date. Yesterday provided a particularly stark example of Freddie being very, very wrong.
In its latest survey report, Freddie said, "The average 30-year fixed-rate mortgage [FRM] continues to trend down." No, it doesn't.
Indeed, Mortgage News Daily's archive shows it hasn't fallen once so far this week. MND says the average 30-year FRM rate closed last night at 6.97%. Freddie's report says it's 6.62%. That's a huge gap.
No survey of mortgage rates is perfect. Still, if you want to track rate trends over the longer term, Freddie's numbers are great.
Freddie's problem is that it's providing weekly averages, which can be very different from the last day's reading. Also, its data collection is heavily weighted toward the end of the previous week and the start of the reporting week. And that means it can miss big swings that come later, so delivering wildly out-of-date figures.
It's still tariffs, stupid
People hoping Wednesday's announcement of a pause in many tariff implementations would be good for markets and mortgage rates are feeling disappointed. Mortgage rates inched higher yesterday while stock indices tumbled.
Yesterday, we wrote, "You might wonder whether Wall Street, having slept on it, might be a touch embarrassed by [Wednesday's] immoderate euphoria. There might even be some rowing back from late positions." We suspect we might have been right.
Yesterday's consumer price index (CPI) was better than expected, showing prices rising more slowly in March than experts had predicted. That would normally be good for mortgage rates, and it might have exerted some downward pressure. But it wasn't enough to stop those rates from nudging higher overall.
If yesterday's CPI couldn't stop mortgage rates from rising, you have to wonder whether today's producer price index (PPI) will do any better. PPIs are almost always less important than CPIs.
Much depends on whether Wall Street's hysterical obsession with tariffs has cooled. If it has, markets may begin to pay attention again to economic data. But don't hold your breath.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 7.07% | 7.11% | +0.16% | +0.4% |
| 15-Year Fixed | 6.08% | 6.14% | +0.13% | +0.38% |
| 30-Year Fixed FHA | 6.38% | 7.57% | +0.15% | +0.4% |
| 30-Year Fixed VA | 6.47% | 6.62% | +0.15% | +0.38% |
| 30-Year Fixed USDA | 6.59% | 6.74% | +0.24% | +0.51% |
| 30-Year Fixed Jumbo | 7.31% | 7.33% | -0.16% | +0.27% |
| 5/6 Year ARM | 7.02% | 7.07% | +0.19% | +0.3% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 7.14% | 7.17% | +0.15% | +0.37% |
| 15-Year Fixed | 6.09% | 6.15% | +0.15% | +0.4% |
| 30-Year Fixed FHA | 6.37% | 7.56% | +0.15% | +0.38% |
| 30-Year Fixed VA | 6.61% | 6.76% | +0.17% | +0.47% |
| 5/6 Year ARM | 7.06% | 7.1% | +0.1% | +0.15% |
Coming up
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates — as we've seen frequently recently, especially over tariffs.
Here's Comerica Bank's commentary on the week ahead:
"Egg prices were a key driver of inflation in recent months, but fell in March, helping cool inflation at the producer and consumer levels. The University of Michigan’s Survey of Consumer Sentiment will probably show another steep drop in confidence and rise in inflation expectations in the April preliminary release."
Mortgage rates today
As we suggested above, we suspect markets will be too busy obsessing over tariffs to pay close attention to economic reports today. And we'll be surprised if this morning's two move mortgage rates far — if at all.
According to the MarketWatch economic calendar, markets are expecting the March PPI to inch up (to 0.2% from 0.0%) and April's preliminary consumer sentiment index to edge down (to 55 from 57). We'd need lower-than-expected numbers from these reports to hope they push mortgage rates downward.
Next week
Next week's star economic report is March's retail sales, due Wednesday. Other days are relatively dull, and there's literally nothing scheduled for Monday.
